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Sri Lanka struck an in-principle deal with a committee of official creditors including India and the Paris Club regarding its $5.9bn debt restructuring. The nation’s ministry said that the deal included a long-term maturity extension and interest rate reduction. They said that the next steps would be to reach agreements with other external bilateral creditors, including Saudi Arabia, Pakistan, Kuwait and Iran. Last week, Sri Lanka’s dollar bonds had risen on the back of expectations of receiving a new disbursement from the IMF in December. Besides, at the time, Sri Lanka’s central bank governor said that the government shared details and terms of its $4.2bn China debt deal with its other sovereign creditors and the IMF to reach agreements with the latter.
Its 7.85% 2029s were up over 2 points to 50.9 cents on the dollar
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